ETENRU
RegisteredHarju County
Registry code
12399823
VAT number
EE101601913
Address
Harju maakond, Tallinn, Kesklinna linnaosa, Hobujaama tn 5, 10151
Registered
04.01.2013 · 13 yrs
Activity
Rental and operating of own or leased real estate 68201
Capital
2 500 €
Email
u•••@b•••.comLog in to see
Phone
+372 •• ••••Log in to see
Website
https://www.baltichorizon.com/
LEI
529900EBUV2XQK9V0P40 ISSUED
Business Register 07.10.2026
Sales revenue3,0 m €+12%2025 annual report
Profit448 k €2025 annual report
Labour taxes per quarter0 €Tax Board 2026 Q2
Cash446 k €Cash 31.12.2025, annual report
Tax debt0 €Tax Board debtor list 07.10.2026
Revenue 12 months3,9 m €+19%Tax Board, last 4 quarters
State taxes 12 months661 k €Tax Board, last 4 quarters
Tax debt since 26.09.2026 · ✓ no debt
Details ↓
Turnover by quarter · latest 983 tuh €
804 k804 k867 k842 k882 k1,0 M1,1 M983 k
III 24IV 24I 25II 25III 25IV 25I 26II 26
Chart ↓
Firmo rating
AAA
Excellent, very low risk
88 / 100 points
CBBBBBBAAAAAA
View credit reportReport a debtHow the rating is calculatedCalculated 07.10.2026 · open data
Quick check
  • No tax debt
  • No enforcement proceedings (12 months)
  • No payment orders (12 months)
  • No bankruptcy or liquidation
  • No sanctions
  • Report filed (2025)
  • VAT registered
Stability
RatingAA → AAA
In tax debt0 days since 26.09.2026
Revenue 12 months▲ 19% vs a year earlier
Email right away on tax debt, bankruptcy or board change
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Data

Board and owners

4 persons
Number of active companies, tax debt and bankruptcy. Facts, not an assessment.
Board 3
Edvinas Karbauskas4 companiesno tax debt13.01.1995 (31 a)Personal ID ↗29.04.2026
Gerda Bliuvienė5 companiesno tax debtPersonal ID ↗16.04.2026
Ülari Niinemägi8 companiesno tax debtPersonal ID ↗19.11.2025
Other persons 1
Nasdaq CSD SEOsade registripidajaOsad on Eesti väärtpaberite registris (Nasdaq CSD). See ei tähenda börsil noteerimist.28.09.2017
Shareholders 1
Omanikukonto: BALTIC HORIZON FUND100,0% 2 500 €17.07.2026
Beneficial owners 2
Edvinas Karbauskas4 companiesno tax debtmember of the senior management body, i.e. management or supervisory board member13.05.2026
Gerda Bliuvienėmember of the senior management body, i.e. management or supervisory board member13.05.2026

Business Register open data

Quarterly taxes and revenue

2026 Q2
State taxes / revenue20,5%
Labour taxes / revenue0,0%
Revenue per employee per month—
Gross salary (estimate)—
Net salary (estimate)—

2026 Q2. Wage is estimated from employment taxes.

Build report

QuarterRevenueChange y/yLabour taxesState taxesEmployees
2026 Q2982 518 €▲ 17%0 €201 423 €—
2026 Q11 056 333 €▲ 22%0 €134 025 €—
2025 Q41 014 051 €▲ 26%0 €188 959 €—
2025 Q3881 900 €▲ 10%0 €136 803 €—
2025 Q2841 710 €▲ 4%0 €112 274 €—
2025 Q1866 647 €▲ 20%0 €133 647 €—
2024 Q4803 855 €▲ 4%0 €132 487 €—
2024 Q3804 111 €▲ 2%0 €81 777 €—
2024 Q2809 261 €▼ 3%0 €119 950 €—
2024 Q1722 155 €▼ 16%0 €68 582 €—
2023 Q4772 073 €▲ 10%0 €130 515 €—
2023 Q3787 979 €▲ 10%0 €103 059 €—
Show full history (18 quarters)
2023 Q2833 878 €▲ 15%0 €110 720 €—
2023 Q1858 264 €▲ 47%0 €131 117 €—
2022 Q4700 658 €0 €98 806 €—
2022 Q3716 500 €0 €74 138 €—
2022 Q2727 771 €0 €103 912 €—
2022 Q1585 179 €14 561 €117 495 €—

Tax and Customs Board, published on the 10th of the month following the quarter. State taxes include employment taxes. CC BY-SA 3.0

Annual reports

5 yr
Build report

20252024202320222021
Sales revenue3,0 m €▲ 12%2,7 m €▲ 1%2,6 m €0%2,6 m €▲ 19%2,2 m €
Profit448 k €▼ 78%2,0 m €▲ into profit-7,1 m €▼ 153%-2,8 m €▼ into loss555 k €
Profit margin15,1%77,3%-268,3%-105,5%24,9%
Retained earnings-1,1 m €▲ 64%-3,2 m €▼ into loss3,9 m €▲ 57%2,5 m €▲ 29%1,9 m €
Cash446 k €▲ 102%221 k €▼ 55%493 k €▼ 52%1,0 m €▼ 60%2,6 m €
Current assets878 k €▲ 99%441 k €▼ 30%634 k €▼ 52%1,3 m €▼ 52%2,8 m €
Fixed assets35,8 m €0%35,9 m €▲ 8%33,2 m €▼ 19%41,2 m €▼ 7%44,2 m €
Assets36,7 m €▲ 1%36,4 m €▲ 8%33,8 m €▼ 20%42,5 m €▼ 10%47,0 m €
Current liabilities579 k €▲ 42%407 k €▼ 50%808 k €▼ 95%17,5 m €▲ 751%2,1 m €
Long-term liabilities20,5 m €▼ 1%20,8 m €▲ 5%19,9 m €▲ 42%14,0 m €▼ 67%42,5 m €
Total liabilities21,1 m €▼ 1%21,3 m €▲ 3%20,7 m €▼ 34%31,5 m €▼ 29%44,5 m €
Equity15,6 m €▲ 3%15,1 m €▲ 15%13,1 m €▲ 20%11,0 m €▲ 344%2,5 m €
Labour costs——0 €▼ 100%34 216 €▲ 2%33 659 €
Employees0000▼ 100%1
Filed12.06.202630.06.202528.06.202420.06.202321.06.2022
ReportPDF ↓PDF ↓PDF ↓PDF ↓PDF ↓

▲ growth, ▼ decline compared to the previous year (growth in liabilities is red). Business Register, annual reports. CC BY 4.0

Revenue by activity

2025
ActivityEMTAKSales revenueOsa
Rental and operating of own or leased real estate main activity682012 958 427 €100%

2025 annual report, RIK open data

Real estate

e-kinnistusraamat

Loading properties…

Source: e-kinnistusraamat (Centre of Registers and Information Systems), basic data

Debts and court cases

clean
No tax debt · Tax Board 07.10.2026

Tax Board debtor list (daily), Official Announcements, State Gazette. The Tax Board publishes only today's list; earlier history is collected by Firmo.

Enforcement, payment orders and notices

clean

Official Announcements contain no enforcement, payment order or tax authority notices about the company.

Official Announcements (CC BY-SA 4.0). Enforcement proceedings, payment orders or tax decisions are published there only if they cannot be delivered to the company otherwise. The enforcement register is not public, so the absence of a notice does not mean there are no claims.

State: transactions, tenders, grants

7 668 € makseid

Transactions with state institutions

20261 483 €
20252 103 €
20241 129 €
20232 954 €

Largest payers

Tallinna Keskkonna- ja Kommunaalamet7 668 €
All payments by month
MonthPayerTypeFieldAmount
05.2026Tallinna Keskkonna- ja KommunaalametOperating costsStreet lighting134 €
04.2026Tallinna Keskkonna- ja KommunaalametOperating costsStreet lighting229 €
03.2026Tallinna Keskkonna- ja KommunaalametOperating costsStreet lighting456 €
02.2026Tallinna Keskkonna- ja KommunaalametOperating costsStreet lighting417 €
01.2026Tallinna Keskkonna- ja KommunaalametOperating costsStreet lighting247 €
12.2025Tallinna Keskkonna- ja KommunaalametOperating costsStreet lighting431 €
11.2025Tallinna Keskkonna- ja KommunaalametOperating costsStreet lighting232 €
10.2025Tallinna Keskkonna- ja KommunaalametOperating costsStreet lighting148 €
09.2025Tallinna Keskkonna- ja KommunaalametOperating costsStreet lighting113 €
05.2025Tallinna Keskkonna- ja KommunaalametOperating costsStreet lighting108 €
04.2025Tallinna Keskkonna- ja KommunaalametOperating costsStreet lighting202 €
03.2025Tallinna Keskkonna- ja KommunaalametOperating costsStreet lighting304 €
02.2025Tallinna Keskkonna- ja KommunaalametOperating costsStreet lighting281 €
01.2025Tallinna Keskkonna- ja KommunaalametOperating costsStreet lighting284 €
12.2024Tallinna Keskkonna- ja KommunaalametOperating costsStreet lighting443 €
11.2024Tallinna Keskkonna- ja KommunaalametOperating costsStreet lighting224 €
10.2024Tallinna Keskkonna- ja KommunaalametOperating costsStreet lighting150 €
02.2024Tallinna Keskkonna- ja KommunaalametOperating costsStreet lighting169 €
01.2024Tallinna Keskkonna- ja KommunaalametOperating costsStreet lighting143 €
12.2023Tallinna Keskkonna- ja KommunaalametOperating costsStreet lighting420 €
10.2023Tallinna Keskkonna- ja KommunaalametOperating costsStreet lighting129 €
06.2023Tallinna Keskkonna- ja KommunaalametOperating costsStreet lighting104 €
05.2023Tallinna Keskkonna- ja KommunaalametOperating costsStreet lighting219 €
04.2023Tallinna Keskkonna- ja KommunaalametOperating costsStreet lighting416 €
03.2023Tallinna Keskkonna- ja KommunaalametOperating costsStreet lighting576 €
02.2023Tallinna Keskkonna- ja KommunaalametOperating costsStreet lighting647 €
01.2023Tallinna Keskkonna- ja KommunaalametOperating costsStreet lighting443 €

Riigi Tugiteenuste Keskus, Saldo makseandmikud

Holdings in other companies

0

No holdings in other companies

Companies linked via the board

9

Top 20 in activity: Rental and operating of own or leased real estate

20

Tegevusload

1 records

Activity licences (MTR and environmental)

FieldLicence numberValid from
Keskkonnaluba: KatlamajaL.ÕV.HA-16204709.10.2007

History and notices

34
DateTypeContent
29.04.2026EntryAmendment entry
29.04.2026Order to remedy deficienciesAmendment entry
16.04.2026EntryAmendment entry
19.11.2025EntryAmendment entry
19.11.2025Kättetoimetatav määrusAmendment entry
07.11.2025Kättetoimetatav määrusAmendment entry
07.04.2025EntryAmendment entry
04.07.2023EntrySecond, constitutive merger entry (on the acquiring company's register card)
16.12.2022EntryAmendment entry
03.08.2022Negative entry order: deficiencies not remediedMuutmiskanne ÄS § 525 lg 2 alusel
04.07.2022Administrative order
21.06.2022EntryAmendment entry
21.06.2022Order to remedy deficienciesMuutmiskanne ÄS § 525 lg 2 alusel
24.05.2022EntryMuutmiskanne ÄS § 525 lg 2 alusel
20.05.2022Administrative orderMuutmiskanne ÄS § 525 lg 2 alusel
21.05.2021EntryAmendment entry
10.12.2019EntryAmendment entry
10.07.2019EntryAmendment entry
19.04.2018EntryAmendment entry
18.01.2018EntryAmendment entry
03.12.2017EntryAmendment entry
28.09.2017EntryAmendment entry
05.04.2017EntryAmendment entry
03.03.2017EntryAmendment entry
14.12.2016EntryMuutmiskanne ÄS § 525 lg 2 alusel
23.09.2016EntryAmendment entry
17.06.2016EntryAmendment entry
03.06.2016EntryAmendment entry
26.05.2016Administrative orderAmendment entry
23.12.2015EntryAmendment entry
22.12.2015Order to remedy deficienciesAmendment entry
05.12.2013EntryAmendment entry
10.06.2013EntryAmendment entry
04.01.2013EntryFirst entry